Case Study – BTL Purchase

Case Overview

Purpose of Loan – To purchase the adjoining house to their residential to add to their portfolio

Security – 3 bed terrace valued at £430,000

Value of Loan – £322,500

Details and Difficulties

Time Taken from Submission to Completion – 5 months but some delays were due to vendor

Difficulties Overcome – 4 applicants in a limited company with two having no experience. The experienced applicants had income below £25,000.

Exit Strategy – sale of property

Anything else that makes the case stand out/unusual/exciting – First case for a new AR, not all lenders are comfortable when clients are purchasing houses that are adjoining their own/other properties they already own.

Partner Commision

Gross Fees Generated – £2607.50

Lender – Precise Mortgages

Any Subsequent Fees/Opportunities as a result – Clients are portfolio landlords so may make further purchases